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Wednesday Morning Science Supplement

Wednesday Science Supplement is an Open Thread

From Yahoo News Science

1 Wall Street rocket scientists crash to Earth

by Sebastian Smith, AFP

Tue Apr 7, 11:58 am ET

NEW YORK (AFP) – There’s a reason Wall Street resembles a rocket experiment gone wrong: rocket scientists helped make it happen.

Known as quants, these are the mathematicians and physicists who devised the financial instruments and computer programs fueling stock markets’ spectacular rise and collapse.

And while in good times they became financial rock stars, quants — short for quantitative analysts — are now being cast as villains of an industry that abandoned its values.

Monday Morning Business Update

New News

1 Bankers rage at G20 ‘witch hunt’ against bonuses and buccaneers

Basic pay bumped up as City tries to retain risk-taking ‘talent’, warning it may go abroad

Elena Moya

The Guardian, Saturday 4 April 2009

Bankers and hedge fund managers were furious yesterday at attempts by the G20 to cap their pay and regulate them for the first time, calling it a “witch hunt” by world leaders.

“Regulation is generally bad. You should let the market decide what the people will get paid,” said Matthew Prest, managing director at Close Brothers investment bank. “Sometimes regulation has the opposite effect of what you want and I think bankers’ salaries regulation would fall under that category. I don’t hear anybody calling for Hollywood star salary caps. This is a trendy, fashionable thing to do, it will have bad consequences.”

The end of light-touch regulation heralded by the G20 summit will lead to far-reaching changes to the conduct of business in the City of London.

Weekend News Digest

Weekend News Digest is an Open Thread

From Yahoo News Top Stories

1 Taliban threaten 2 attacks per week in Pakistan

By ZARAR KHAN, Associated Press Writer

1 hr 56 mins ago

ISLAMABAD – A suicide bombing at a crowded Shiite mosque south of Pakistan’s capital killed 22 people Sunday, the latest evidence of how security in the U.S.-allied nation is crumbling well beyond the Afghan border region where al-Qaida and Taliban fighters thrive.

The violence came as a senior Pakistani Taliban commander said his group was behind a deadly suicide bombing Saturday night in Islamabad and promised two more attacks per week in the country if the U.S. does not stop missile strikes on Pakistani territory.

Sunday’s suicide bomber set off his explosives at the entrance to a mosque in Chakwal city in Punjab province, some 50 miles (80 kilometers) south of Islamabad, said Nadeem Hasan Asif, a top security official in the province. The blast killed 22 and wounded dozens, he said.

2 At least 22 killed in Pakistan suicide bombing

By Faisal Mehmood, Reuters

Sun Apr 5, 10:02 am ET

CHAKWAL, Pakistan (Reuters) – A suicide bomber blew himself up at a gathering of minority Shi’ite Muslims in Pakistan on Sunday killing 22 people a day after a deadly suicide attack in the capital, police said.

Pakistan is crucial to U.S. efforts to stabilize neighboring Afghanistan and U.S. President Barack Obama has said the release of additional U.S. aid to the nuclear-armed country depends on how it tackles terrorism.

The attack in the central city of Chakwal came a day after a pilotless U.S. drone aircraft killed 13 people including militants in the northwest and a suicide bomber killed eight soldiers in Islamabad.

Weekend News Digest

Final.

1 Administration Seeks an Out On Bailout Rules for Firms

Officials Worry Constraints Set by Congress Deter Participation

By Amit R. Paley and David Cho

Washington Post Staff Writers

Saturday, April 4, 2009; Page A01

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

Administration officials have concluded that this approach is vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials.

Wednesday Morning Science Supplement

Wednesday Science Supplement is an Open Thread

From Yahoo News Science

1 CT scan reveals hidden face under Nefertiti bust

By PATRICK McGROARTY, Associated Press Writer

Tue Mar 31, 9:11 pm ET

BERLIN – Researchers in Germany have used a modern medical procedure to uncover a secret within one of ancient Egypt’s most treasured artworks – the bust of Nefertiti has two faces. A team led by Dr. Alexander Huppertz, director of the Imaging Science Institute at Berlin’s Charite hospital and medical school, discovered a detailed stone carving that differs from the external stucco face when they performed a computed tomography, or CT, scan on the bust.

The findings, published Tuesday in the monthly journal Radiology, are the first to show that the stone core of the statue is a highly detailed sculpture of the queen, Huppertz said.

“Until we did this scan, how deep the stucco was and whether a second face was underneath it was unknown,” he said. “The hypothesis was that the stone underneath was just a support.”

Monday Morning Business Update

Old News

Saturday

1 Bank execs vow to work with Obama on recovery plan

By DARLENE SUPERVILLE, Associated Press Writer

Sat Mar 28, 1:42 am ET

WASHINGTON – Top executives of the nation’s biggest banks said Friday after meeting with President Barack Obama that they will work with the administration on its economic recovery plans, but want more specifics from the White House. In an interview with CBS News, Obama said his overarching message was this: “Show some restraint. Show that you get that this is a crisis and everybody has to make sacrifices. They agreed and they recognized it. Now, the proof in the pudding is in the eating.”

Bankers said an administration proposal to jump-start lending, a problem at the heart of the industry’s crisis, is encouraging.

“People are looking at that. It’s positive,” Morgan Stanley’s John Mack told The Associated Press in an interview. “We think it’s the right thing to do and now we just need to get the details.”

Weekend News Digest

Weekend News Digest is an Open Thread

From Yahoo News Top Stories

1 US-backed Iraqi troops quell Baghdad uprising

By ROBERT H. REID, Associated Press Writer

57 mins ago

BAGHDAD – U.S.-backed Iraqi forces swept through a central Baghdad slum Sunday, disarming Sunnis from a government-allied paramilitary group to quell a two-day uprising launched to protest the arrest of their leader.

At least four people were killed and 21 wounded in the two days of fighting between government troops and the Awakening Council in Fadhil, a ramshackle warren of narrow, fetid streets on the east side of the Tigris River where al-Qaida once held sway.

Members of the Fadhil council said Sunday they decided to give up the fight and hand over their weapons to spare the neighborhood, whose bullet-pocked buildings bore witness to intense combat there two years ago.

Weekend News Digest

Weekend News Digest is an Open Thread

From Yahoo News Top Stories

1 European protesters march in G20 rallies

By DEAN CARSON, Associated Press Writer

20 mins ago

LONDON – Thousands of people marched through European cities Saturday to demand jobs, economic justice and environmental accountability, kicking off six days of protest and action planned in the run-up to the G20 summit next week in London.

In London, more than 150 groups threw their backing behind the “Put People First” march. Police said around 35,000 attended the demonstration, snaking their way across the city toward Speaker’s Corner in Hyde Park. Protest organizers said they wanted leaders from the world’s top 20 economies to adopt a more transparent and democratic economic recovery plan.

Brendan Barber, who heads an umbrella group for Britain’s unions, told assembled protesters in London’s Hyde Park that the G20 needed to “take actions to lay the foundation for a better world.”

The Stars Hollow Gazette

My Elementary School days were not entirely a bloody minded, Lord of the Flies, struggle for existence.  As a matter of fact I had a good relationship with most of my teachers and classmates.

I was a favorite of my third grade teacher because I called her out on bats using Radar (not unless you microwave them).  My first grade teacher I’m eternally grateful to since she helped me decode those symbols behind the shutters at the beginning of Popeye cartoons.

My second grade teacher was an air head, but a fox; and that was also the year my most precocious classmate started developing (I also discovered Nathaniel Greene, it was a big year).

But that’s not the story I want to tell tonight.

Much to my surprise it’s been a little over 10 years since I stopped smoking again, which is a long time for me.

My last relapse started at a High School reunion where so intimidated was I by the pressure of comparing my life to my dreams that I practically tore open the cigarette machine for a pack of Merits after about 2 years of quit.

Interestingly enough, at least to me, precocious girl was right beside me and we had a good time out in the “smoking lounge” (a place I never inhabited in High School).

Stars Hollow is a small town actually.  Hadn’t seen her for years until a few months ago when I needed some new glasses and there she was.

So what are you doing now ek?

Well, I blog.

The Stars Hollow Gazette

I’ve only ever hit anybody twice.

That is I did it the two times.

Oddly enough it was the same guy, in the same spot, for the same reason.

And it had exactly the same effect.

The first time was in third grade.  He was an asshole bully, which was kind of odd considering he was a four eyed fat kid or maybe it was an expression of that, whatever.

He pushed me too far and I popped him one right between the eyes and broke his glasses.  Game over dude.

He tried it again in fifth grade, idiot.

Now of course I’m much more grown up and sophisticated.  Hitting someone in the head is stupid, you’ll break your hands unless you use a tool like a two by four.  You should aim for the kidneys or kick them in the groin.

But best of all is to back off and plot your revenge in private.

Then serve it cold.

Wednesday Morning Science Supplement

Wednesday Science Supplement is an Open Thread

From Yahoo News Science

1 Scientists find new species in Papua New Guinea

By KRISTEN GELINEAU, Associated Press Writer

1 hr 24 mins ago

SYDNEY – A brilliant green tree frog with huge black eyes, jumping spiders and a striped gecko are among more than 50 new animal species scientists have discovered in a remote, mountainous region of Papua New Guinea.

The discoveries were announced Wednesday by Washington D.C.-based Conservation International, which spent the past several months analyzing more than 600 animal species the group found during its expedition to the South Pacific island nation in July and August.

Of the animals discovered, 50 spider species, three frogs and a gecko appear to have never been described in scientific literature before, the conservation group said. The new frogs include a tiny brown animal with a sharp chirp, a bug-eyed bright green tree frog and another frog with a loud ringing call. One of the jumping spiders is shiny and pale green, while another is furry and brown.

Monday Morning Business Update

And Late Breaking News

“Political Will”

“Political Will”, when uttered by a Villager, means the ability to ignore the opinion of the American people.

The Iron Triangle of Institutional Washington, the lawyers and lobbyists and media mouthpieces are hoping Obama has the “political will” to stand up to us, to the face of our anger at the elites.

Their vanity doesn’t quite grasp the nature of their epic failure to deceive.

The preposterous Randian “entitlement” of these Massive Failure Masters is exposed.  Cadillac Wall Street Welfare Queens they know nothing.

I expect the market to rise tomorrow on the expectation that another Bailout is in the offing.

On the other hand at least the House has blinked, though they may count it a free vote; and I don’t think anyone on “Main St.” or the rest of the 95% of us is going to be fooled by the smoke and mirrors.

To say Obama’s presidency hangs by a thread is an understatement.  The housing market has another 20% to drop to historic average.  Anyone who thinks that the economy is going to turn around by June (I’m looking at you Cramer) is a cockeyed optimist.

We have to stop paying off Credit Default Swaps that are not asset backed.  Sorry if you bet on black time to rake the chips in.

The market rate for toxic assets is 30% but banks don’t want to let them go for less than 60%.  Geithner wants to form a partnership with private capital where they put up less than 10% of the money and get 80% of the profits (if any).

Of course if there aren’t any profits (20% drop in housing prices to historic average) we guarantee the entire loss.

What a pathetic sucker bet.

And it’s not like they’re going to buy all asset backed crap either.  This stuff includes all those worthless chips on black.

This is going to be a tough sell.  I don’t think they have the “political will” to do it.

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